by Karen E. Culp
Springfield ReManufacturing Company is at it again.
The 16-year-old Springfield business is up to its old tricks: creating new jobs in the area and taking care of its obligations to a community where it had to sell a subsidiary business.
SRC Holdings Corporation's Chief Executive Officer Jack Stack announced that SRC was divesting itself of Sequel Corp., a company in Willow Springs that is one of the oldest members of the SRC family of businesses.
Engine Supply Inc., a Phoenix, Ariz.-based company, purchased Sequel for an undisclosed amount April 14. At the same time, SRC announced it will add about 300 jobs to the Springfield community in coming months, Stack said.
It had been apparent to SRC officials for some time that something had to happen at the Willow Springs plant, Stack said. The company was not able to produce what it needed to in order to meet SRC's needs.
"We just could not provide the jobs to Willow Springs. It became apparent to us that Sequel, with its unique nature, was left outside the box. ... The key management in this company then became aware that we should begin to find a buyer for the company," Stack said.
Employees at the plant and residents of Willow Springs wanted to ensure that one of their town's largest employers was not going to pull out and leave a deficit of jobs, said Sam Kaunley, general manager at Sequel and vice president of business development for SRC Holdings Corp.
"This community said that what happened in Houston with the Lee plant leaving was not going to happen here. Something to replace SRC was going to have to go into this community[[In-content Ad]]
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